Calfrac Announces Retirement of Co-Founder and Chief Executive Officer Douglas R. Ramsay at the end of 2013 - Fernando Aguilar

Calfrac Announces Retirement of Co-Founder and Chief Executive Officer Douglas 
R. Ramsay at the end of 2013 - Fernando Aguilar Named Successor 
CALGARY, May 14, 2013 /CNW/ - Calfrac Well Services Ltd. ("Calfrac" or the 
"Company") (TSX-CFW) announced today that Doug Ramsay, Co-Founder and Chief 
Executive Officer, intends to retire from the office of Chief Executive at the 
end of 2013. As part of a planned leadership succession process, the Board 
of Directors intends to appoint Fernando Aguilar, Calfrac's current President 
and Chief Operating Officer, to succeed Mr. Ramsay as President and Chief 
Executive Officer of the Company, on or about January 1, 2014. Mr. Ramsay is 
expected to become the Vice Chairman of the Company and to remain a member of 
the Board of Directors. Mr. Ramsay's continued responsibilities will include 
support work with senior executives, shareholder and customer relations, 
public and regulatory issues and various corporate initiatives. 
Doug began his oil and gas career in 1973 as an equipment operator with BJ 
Well Services. He went on to positions of drilling and completions manager, 
oilfield consultant and wellsite foreman for Dome Petroleum. He served as 
President of Canadian Fracmaster Limited until 1994, where he spent 12 years 
enhancing that corporation's worldwide presence. In 1999, Doug went on to 
co-found Calfrac Well Services Ltd. 
Ron Mathison, Chairman of the Board, stated, "The Board of Directors is truly 
appreciative of Doug's leadership of Calfrac as one of its founders and CEO 
from its inception and through its 14 year history. Doug has led the 
development and growth of Calfrac Well Services into one of the most 
successful enterprises in the well servicing industry with a core strategy of 
building strong local operating capability supported by a lean, 
entrepreneurial corporate structure. Doug has guided the company through an 
incredible period of change and growth and has done so with utmost integrity 
and a sharp focus on creating value for our customers, shareholders and 
employees." 
Mr. Mathison continued, "The Board takes its responsibilities regarding CEO 
succession very seriously and Doug along with Gordon Dibb, another co-founder 
of the Company, did a superb job in working closely with the Board to identify 
and prepare Fernando Aguilar as Gordon's successor as COO and now as Doug's 
successor as CEO. We are delighted to have an individual of Fernando's 
calibre and experience to lead Calfrac into the future. Fernando has been an 
active partner in achieving our recent growth and operational success and has 
the complete endorsement and support of the Board." 
Doug Ramsay added, "Fernando is a proven leader, and has been an integral part 
of Calfrac's growth and performance since he joined the company first as a 
Director in 2008 and then as COO in 2010. In addition to an excellent track 
record as a commercial and operational executive, Fernando possesses strong 
industry expertise, market insight and understanding of our customers' needs. 
His appointment is the culmination of a thoughtful and deliberate succession 
planning process. During his tenure to date as President and Chief Operating 
Officer, Fernando has had a positive impact on the business and the Board 
looks forward to working with him to ensure the continued success and growth 
of Calfrac Well Services in the years ahead." 
Doug went on to say, "I am extremely proud of Calfrac's entire organization 
which has allowed us to build the company we have today. The management 
team, which I believe is second-to-none in the industry, allows me to 
transition to the Vice Chair position with confidence the Company will 
continue to thrive in this cyclical and challenging environment." 
Fernando Aguilar said, "Calfrac Well Services is a dynamic service company 
dedicated to the success of our customers, employees and shareholders with its 
commitment to superior execution in the field. I have enjoyed being part of 
this team and the growth achieved over the last several years. We have an 
exceptionally strong management team at the local, regional and corporate 
levels to continue building on the footprint and capabilities we've 
established. I am very excited about the future of the Company and would 
like to thank Doug and the entire Board for their trust and support." 
Mr. Aguilar was previously with CGG Veritas from 2004 to 2010, where he held 
several leadership positions, most recently serving as President, Geophysical 
Services for the Americas. Prior to joining CGG Veritas, Fernando was with 
Schlumberger for 22 years, serving in roles with increasing responsibilities 
in the technology, business and oilfield service sectors, predominantly in the 
Pressure Pumping, Wireline and Testing groups. Fernando's last position with 
Schlumberger was Vice President, Oilfield Services. He holds a degree in 
Civil Engineering, specializing in Hydraulic Resources Management, and has 
completed the Stanford Executive Program at Stanford University and the 
Director's Education Program at the University of Calgary. 
Calfrac's common shares are publicly traded on the Toronto Stock Exchange 
under the trading symbol "CFW". Calfrac provides specialized oilfield 
services to exploration and production companies designed to increase the 
production of hydrocarbons from wells drilled throughout western Canada, the 
United States, Russia, Mexico, Colombia and Argentina. 
Douglas R. Ramsay Chief Executive Officer Telephone:(403) 266-6000 
Fax:(403)266-7381  
Laura A. Cillis Senior Vice President, Finance and Chief Financial Officer 
Telephone: (403) 266-6000 Fax: (403) 266-7381  
Tom J. Medvedic Senior Vice President, Corporate Development 
Telephone:(403) 266-6000 Fax:(403)266-7381  
SOURCE: Calfrac Well Services Ltd. 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/May2013/14/c7048.html 
CO: Calfrac Well Services Ltd.
ST: Alberta
NI: OIL 2575 WNEWS  
-0- May/15/2013 00:16 GMT
 
 
Press spacebar to pause and continue. Press esc to stop.